Global Engineering Machinery Turbocharger Market Size, Share, and Trends Analysis Report, By Type (Mono Turbo and Twin Turbo), By Application (Construction, Mining, and Others), and By Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket), Forecast (2022-2028)

The global engineering machinery turbocharger market is anticipated to grow at a considerable CAGR 4% during the forecast period (2022-2028). The turbocharger also known as “Turbo” is a turbine-driven component of the engine that provides an enhancement in internal combustion by increasing the supply of air in the engine. The major factor attributing to the growth of the global engineering machinery turbocharger market includes the increasing use of engineering machinery in construction due to the increasing investment in construction and infrastructure development across the globe. According to the Institute of Civil Engineers (ICE), the global construction industry is anticipated to reach around $8 trillion by 2030 due to the development activities of countries including the US, China, and India. Additionally, governments of European countries are making significant investments in projects for developing smart cities. It is expected that there are around 300 smart cities in the European Union. Thus, increasing the demand for a turbocharger for installation in engineering machinery used in construction.

The application of turbochargers in engineering machinery is also increasing due to the growing mining industry. According to the India Brand Equity Foundation (IBEF), India holds a major role in the production and conversion of minerals from mining. There were around 1,229 mines in India registered in 2021. Among these, 545 were mines for metallic minerals, and 684 were mines for non-metallic minerals. Furthermore, the use of turbochargers is also increasing in heavy engineering machinery due to various advantages provided by turbochargers. These benefits include a significant increase in horsepower, allowing small engines to deliver more power, enhancement in fuel economy, and increased efficiency of engines, among others. Thus, propelling the growth of the global engineering machinery turbocharger market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in January 2021, ABB Turbocharging, an Engine & Machinery Division (EMD) of Hyundai Heavy Industries (HHI) in partnership with Hyundai Global Services (HGS) introduced a “total service solution” for customers. The solutions will provide optimal efficiency and emissions performance with the access of ABB’s global network of turbocharging service stations to Hyundai Global Services.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
  • By Sales Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Honeywell Imternational Inc., BrogWarner Inc., Continental AG, Robert Bosch GmbH, and Cummins Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Engineering Machinery Turbocharger Market Report by Segment

By Type

• Mono Turbo
• Twin Turbo

By Application

• Construction
• Mining
• Others

By Sales Channel

• OEM
• Aftermarket